CAVA Group Earnings Call Transcripts
Fiscal Year 2026
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Brand momentum is strong, with rapid unit and revenue growth, expanding awareness, and a focus on Mediterranean cuisine. Investments in technology, people, and operational excellence support scalable growth, while new channels like catering and increased marketing are being tested for future expansion.
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Q1 2026 saw 32.2% revenue growth, 9.7% same-restaurant sales, and strong new unit performance. Guidance was raised for full-year sales and openings, with margin headwinds from salmon and energy costs factored in. Liquidity remains robust, and digital and loyalty engagement continue to grow.
Fiscal Year 2025
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Achieved record revenue growth and strong new restaurant performance in 2025, with robust liquidity and a positive outlook for 2026. Guidance anticipates 74–76 new openings, 3–5% same-restaurant sales growth, and continued margin investments amid macro uncertainty.
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Q3 2025 saw 20% revenue growth, 17 new restaurants, and strong market share gains despite macro headwinds. Adjusted EBITDA rose 19.6% to $40M, with a 24.6% profit margin. 2025 guidance includes 68-70 new units and 3%-4% same restaurant sales growth.
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Revenue grew 20.3% year-over-year to $278.2M, with Same Restaurant Sales up 2.1% and 16 net new restaurants opened. Adjusted EBITDA rose 22.6% to $42.1M, and net income reached $18.4M. Guidance remains strong, with robust new restaurant performance and continued innovation driving confidence.
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Q1 2025 saw 28.2% revenue growth, 10.8% same restaurant sales growth, and strong net income and EBITDA gains. Expansion continued with 15 new restaurants and robust performance across all regions. Guidance for 2025 remains positive, with disciplined investments and no signs of regional weakness.
Fiscal Year 2024
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Delivered strong 2024 growth with 36.8% Q4 revenue increase, 21.2% same-restaurant sales growth, and 58 net new openings. 2025 guidance includes 62-66 new restaurants, 6%-8% same-restaurant sales growth, and $150-$157M Adjusted EBITDA.
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Significant progress was made with new production facilities, menu innovation, and a revamped loyalty program, driving strong brand awareness and store performance. Store growth of 17%+ is targeted for 2025, with continued investment in technology, team, and guest experience. Restaurant-level margins are expected to remain stable as the company balances growth and operational enhancements.
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Q3 2024 saw 39% revenue growth, 18.1% same restaurant sales growth, and 163% higher net income year-over-year. Expansion continues with strong new unit performance, a robust cash position, and raised guidance for 2024 and 2025, driven by innovation and operational execution.
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Q2 2024 saw 35% revenue growth, 14.4% same-restaurant sales growth, and net income surpassing all of 2023, driven by strong traffic, new menu innovation, and expansion. Guidance for 2024 remains robust despite macro uncertainty, with continued investment in growth and technology.